Further quantitative easing (QE) by the major central banks appears to have encouraged investors to take on more risk to find higher yields, according to the BIS, and sales of riskier types of bonds have increased in the last three months. "Some asset prices started to appear highly valued in historical terms relative to indicators of their riskiness," it said in its quarterly review. "Market participants attributed a significant part of the rally in asset prices to further loosening by central banks, notably the Federal Reserve." – CNBC

Dominant Social Theme: We don't know how things got this far but we warned you.

to explain to people that food-scarcity demands United Nations involvement in food production, you first actually have to create the scarcity.